How to Get KYC Done Yourself

As per recent regulatory developments, from January 1, 2011, KYC (Know Your Client) is mandatory for investors wanting to transact in Mutual Funds, regardless of the transaction amount. This means you will not be able to process any fresh MF purchases post January 1, 2011, unless you are MF KYC compliant as per CDSL Ventures Limited (CVL) norms.

So you can always ask your broker’s to get you forms and submit them for your KYC but as there are no mutual funds fees they may not be very helpful at times and so it is better you also know how you can get your KYC done yourself. The process is really very simple.

1. Get the Form

The KYC application form is available at the investor service centres of the Fund and CAMS or at any designated ‘Points of Service’ (POS) of CDSL Ventures Ltd. or can be downloaded from your broker, Advisor or AMC. I have uploaded them here for you to download. (KYC Form Individual / KYC Form-Non-Individual).

2. Documents

Documents required to be submitted along with the KYC application form are:

A recent passport size photograph

PAN card copy

Address proof (Recent bank statement will work but if you have get your bank statement in email you need to visit your bank branch to get an original one.)

Once you have the documents ready submit at CAMS Online office in your city. You can find the address of your CAMS Office here. Make sure you carry the originals along with a xerox copy of the documents because at times they want to check with the originals.

3. Verification

After verification of the KYC application form and accompanying documents, investors will receive a letter certifying their KYC compliance. They normally give you the letter in few hours to a max of 24 hours and there is no charge for this verification.

You can verify your KYC status online here. The day you submit your form your status should be processing and once it is processed your status should become VERIFIED.

Actually KYC need not be done at your broker’s end but some online system does not accept order if they don’t have the data in their own system and so it is better to get that done as well. Once you have the letter you can send that letter’s copy to your broker to update. For ShareKhan you have to Fax the verification letter to 022-24982626 (Details here).

Hmm.. so, people will loot 1000s of crores but for investing 500Rs, 1000Rs etc. we need to go in-person and waste all the day to get ourselves KYC done which is anyway the job of the Mutual fund company.. Mera Bharat Mahaan.. (facepalm)

http://imtips.co/ Shabbir Bhimani

The process will not take all day and is quite simple. Yes it is job of MF company to get your documents collected but then they have very little margin without entry load to be doing that.

Indian First

Well, I live 40 Kms away from the mutual fund company office and they are not open on saturdays..

Besides, most Indian mutual funds charge more than 2% as expenses fees when most fund managers sit idle for months together without re-allocating stocks.. basically doing nothing and getting paid.. and many struggle to beat even the benchmark.. Dont know what;s difficult in getting documents done..

sir please guide me,how to resolve this issue by myself without help of intermediary

http://imtips.co/ Shabbir Bhimani

Vinay just do the KYC process again and submit the documents once again yourself by visiting the CAMS Online office in your city. Don’t rely on others to submit your documents.

nupur

Hello

i want to create a KYC. can i provide rent agreement for address proof instead of bank statement ? because i am shifted to other place and in banks old address is present.

Thanks

http://shabbir.in/ Shabbir Bhimani

You have to anyway change the address in your bank statement and so do that first and then apply for KYC. Yes rent agreement should be acceptable as address proof as well though.

prashant

hi , my mom purchased some mutual funds in 2009 and at that time there was no kyc, she is no more with and i m d nominee ,kindly help me with the legal formalities for withdrawing the money secondly i have lost rest of her investment papers (mutual funds only), how can i get the details without having folio or application nos. and we have closed her old bank a/c as well

http://shabbir.in/ Shabbir Bhimani

If you have lost the papers as well as folio numbers how in the first place you know about the investments? Still I think you should be visiting each fund house and talk with them for your scenario and they may be able to help.

One thing for sure is even if you have closed any account, money can be transferred into those accounts and bank can issue a demand draft as well.

I believe all mutual fund investments should be tied with individual PAN number.

Hope this helps.

Regards, Suraj

BHUSHAN K

Great piece of information Shabbir. Thanks for the useful info. I am an NRI, which form do I need to submit (for individual or non-individual)? Becuase my DP (SBICAPSEC) say that it should be one for non individual. Being and individual NRI investor, I don’t understand how I can submit the details for Certificate or Incorporation / registration etc. Please advise.

http://shabbir.in/ Shabbir Bhimani

No it should never be non-individual as far as what I think because those are for companies. NRI’s are not companies.

Vikas

Hi Shabbir,

Thanks for sharing good information. I have submitted my KYC document 2 months back to sharekhan and fundsindia but my status is still not available in CVL but in NSEKRA its showing existing document received,Could you please suggest what to do.

Thanks in advance

Regards Vikas

http://shabbir.in/ Shabbir Bhimani

Just get the customer care number from the site and talk to them Vikas. I think 2 months is a long time for not available status and it could be that documents are misplaced or something.

Kirit

Great relevant information, in the information overload age good job. I have one question I am KYC compliant but have not received received KYC compliance letter? but when I check my status it is come out verified… do I need KYC compliance letter? if so how do I go about getting?

http://shabbir.in/ Shabbir Bhimani

No I don’t think you need any letter.

Monil

Hi Shabbir

Thanks for compiling the relevant info on this single page. It sure is helpful. It would also help if you could start a topic/share you thoughts, on how to start being independent and earn income from various options available today instead of working for someone and be dependent on single income for livelihood. For people on to a full time job, these times are uncertain and we need to look beyond our monotonous jobs and becoming entrepreneurs. You are a good example of what more people can do in their lives.

Hi Dear, Thank you very much for this very useful information. I am very irritated with all this KYC thing now cos, I have submitted a form n all required documents at HDFC bank 4 weeks ago. Now i am not able chek my status, its showing no status for this PAN no!! I am trying to communicate wid the guy from the bank, he is not responding…..what should I do now??? can I fill the form myself now n do it again??? Cos i want to start investing in MFs as early as possible…PLS HELP….

http://shabbir.in/ Shabbir Bhimani

Yes you can do it yourself or you can submit your KYC along with your Mutual Fund order.

madhuri

Thank you Shabbir. Can you suggest some good mutual funds for tax saving investments?

i have tata mutual funds wich ws bought by my dad wen i ws a minor…now to get it transfeered to my name i need to make a KYC…but de CAMS office in my city dsnt issue KYCs…is it possible to KYC thru sum agent or firms??lyk sharekhan or TATAMF itself??

http://shabbir.in/ Shabbir Bhimani

Should be doable but that does not mean they would do the KYC documents processed but they would just collect documents from you and submit them to CAMS

Sowmya

Will I be able to submit my KYC form after November 30th ? I am unable to submit it this week since I am out of station and dont have necessary docs now….

http://shabbir.in/ Shabbir Bhimani

Any reason why you think Nov 30th is the last date for all KYC related things to be completed?

Sowmya

I recently got an email from ICICI prudential that I need to re do KYC formalities before November 30th 2012, if I have my KYC done before Jan 1st 2012.

http://shabbir.in/ Shabbir Bhimani

This may be KYC with ICICI themselves.

Harish

Hi Shabbir,

I am in process of applying Home loan with private bank in India, they asked me to get the KYC id and address proof, currently i am residing out of India. Can you guide me how to get it done?

Regards -Harish

http://shabbir.in/ Shabbir Bhimani

They have asked KYC documents means you have to provide Photo ID proof and Address proof to them.

Harish

Thanks so much..

http://shabbir.in/ Shabbir Bhimani

The pleasure is all mine Harish

Mani P R

Sir, i had done KYC through Geojit for mutual fund investment. On CVL site i see the status as Rejected – Present in NDML, KYC /modified date : 26 Sept 2012 16:56:33. On checking at NDML it shows as Under Progress- Incomplete KYC (Existing/OLD record), KYC registered/updation date :27/08/2012 , 9:34:24 PM Kindly advise what it means. I thought registration is required only at CVL. Does NDML have any role ? Thank you

http://shabbir.in/ Shabbir Bhimani

Rejected means your documents were not received or some errors happened when submitting your documents. Call and try to understand how you can re-submit your documents.

Himanshu

Hi Shabbir,

My KYC was processed by Sharekhan, and I got the final KYC done ack from NDML. But many AMC don’t accept the KYC from NDML, like SBI asked me to done it again, I filled the form and submit all the required docs, later I checked it on the CVL site, I got the message that “REJECTED – PRESENT IN NDML”.

It seems botyh the organizations CDSL & NDML first verify the entries in each others batabase.

My Q: Why AMC prefers KYC from CSDL not from NDML ?

http://shabbir.in/ Shabbir Bhimani

I am not sure why those AMC prefer CSDL and not NDML but what concerns me is Rejected status.

Akshay

Himanshu, not sure if you’ve already resolved your problem, but I faced a similar situation. I submitted my KYC to a mutual fund, which took the documentation, and then the KYC was rejected with the message, “Rejected – Present in MDNL”.

My banker at Axis Bank (thanks guys!) explained to me that this is because I likely have a stock brokerage account that I thought I had closed but probably hadn’t fully closed, and this turned out to be the case.

So, Himanshu, look through all your paperwork and see if there are statements from any stock brokerage account. Call them up one by one and see where your accounts are still open, and then either close them, or have them update your KYC. Hope this helps.

PANKAJ JUYAL

firstly, rejected – Present with NDML means- that you have a account with a broker who have a NSDL DP , so that why when you done your’s kyc through CVL its gets rejected Secoundly, in NDML under process-incomplete kyc means that your’s full information of kyc is not submitted to your DP so fill up the KYC form along with the documents and submit where you have open the account

Dheeraj

Hi Shabbir,

It is showing my KYC status as “FRONT OFFICE & PHYSICAL VERIFICATION DONE” in given link. Does it mean verified or not verfied?

Thanks in advance.

Dheeraj

http://shabbir.in/ Shabbir Bhimani

It does mean the process has started but not completed yet.

Bhawana

Hi Shabbir,

After retirement, my parents invested in quite a few mutual funds (its been more than 5 years). After some time they permanently moved from Rajasthan to Delhi. We have got the address updated on mutual funds, but KYC is not done on any of them. How to get the KYC done on those.

Once the market is up, we are planning to sell the mututal funds. Our agent doesn’t help us in it (as he gets quarterly/yearly dividend on it and also we have moved from Rajasthan). I do not have knowledge on this.

Please help me in this.

http://shabbir.in/ Shabbir Bhimani

Bhawana, KYC is needed if you want to invest more and so unless you want to invest more, you should not worry about KYC. It is better to get it done but it does not matter if you have a KYC done or not for the old funds and they would work as normal.

Your agent would get nothing and so don’t expect any help from him.

For redemption all you have to do is have a statement of the funds and redemption form can be submitted to the fund house at your near location and the money would get credited to your bank account.

Virendra Gupta

Bajaj Capital does not accept KYC Form without investment application.

I have read at Sundram site that Investment application is not required for those who are already KYC Verified and want to change address etc. But Bajaj refused to entertain the application

http://shabbir.in/ Shabbir Bhimani

Why should Bajaj Capital accept KYC application? Actually any fund house if they accept the KYC application actually submits the form to the near KYC office and so it is better to be doing that yourself because that would mean you get the acknowledgement of submission yourself.

http://www.banyanfa.com Banyan Financial Advisors

Hi, The KYC norms have further been changed come 1 January 2012. Please refer to the link which provides the details of these changes and how to comply with the norms.http://insight.banyanfa.com/?p=173

Banyan Financial Advisors

http://www.naviamarkets.com/ProductServices.aspx share trading on line

Very informative content, it helped me a lot!

http://www.google.com maroliwala

I have inquired about status ‘Front Office Verification Done’, they said that from where ever you have submitted your form and Documents, Documents and form are verified and forwarded to CDSL for further process.

Ramya

Hi Shabbir,

My KYC status says “Verified”, but I didnt receive any acknowledgement/Letter from my MF Agent. So, will this be a problem if I have to invest in new MFs?

Please let me know, what to do to get the letter/acknowledgement of Verified KYC.

Regards Ramya

http://shabbir.in/ Shabbir Bhimani

When you submit your documents you should get something in return and that is the acknowledgement. Ask the person who submitted your document for that sake but if you have verified KYC you can use the document from the website as well because majority of fund houses accepts that as a document for KYC.

Stephen

Dear Shabbir,

It was a visual delight to see “Verified” on CDSL website. I thank you for providing all the vital information in this website which was of immense help to layman like me.Thanks for your support.

Warm Regards,

Saravanan.S

http://shabbir.in/ Shabbir Bhimani

Stephen, the pleasure is all mine. 😀

VINAY

I AM KYC verified. Having some mutual fund with reliance. Hould i have to send s copy to reliance or they will update my profile itself. please suggest me on mail. mail ID: bksc.vinay@gmail.com

http://shabbir.in/ Shabbir Bhimani

No you need to send them your KYC verified documents. Ask their customer and see what is the procedure.

Stephen

Hi Shabbir

I submitted my drivers Licence and today I called up CDSL they informed that the Validity date mentioned on the reverse of Drivers Licence is not legible.They also asked me to send the self-attested, notarised proof of address to the email ID and office address as well.The TAT would be ASAP it seems. Thanks for your assistance

Regards, Stephen

http://shabbir.in/ Shabbir Bhimani

Stephen, the pleasure is all mine.

Stephen

Hi Shabbir

I submitted KYC form on 14 feb 2011.The status has changed from front office and physical verification done to HOLD – Proof of Address- validity date not legible. I am not sure what to do .Your help in this regard would be most welcome.

Regards, Stephen

http://shabbir.in/ Shabbir Bhimani

Probably your proof of address is not valid. What proof of address did you submit?

Makar

FRONT OFFICE VERIFICATION DONE I dont know what the hell is going on after 3 month of submitting KYC request, also the CDSL site does not provide the meaning of different status.

http://vinayagrawal_07@yahoo.com Vinay

I have applied for KYC on 19–Jan–2011 and the present status is : “FRONT OFFICE & PHYSICAL VERIFICATION DONE”

Does it mean it has been successfully verified? If not how many days more will be reuired to get it done?

Thanks in Advance!!!

Regards, Vinay

http://shabbir.in/ Shabbir Bhimani

That is what it looks like.

Vinay

Thansk Shabbir.. Is there any way to confirm that what looks like done is really done?

http://shabbir.in/ Shabbir Bhimani

Should be there but I am not sure I know how. May be give a call to your broker or to CAMS online and see if they have more than what is shown on the website.

Does it mean the verification is done?? If not how many days more will be required??

I appreciate your work!! Many Thanks in Advance..

Regards

channaveer nandennavar

Hi

I have applied for KYC on 18/02/2011 and its now showing “FRONT OFFICE VERIFICATION DONE” what does this means and i want to know still how many steps are there for my KYC to get verified and what are they

Regards Channaveer N

http://shabbir.in/ Shabbir Bhimani

Probably one more step and you should be done.

Sunny

Can we do KYC online

http://shabbir.in/ Shabbir Bhimani

Nope

http://paidtips.com Ravi

Hi Shabbir, Purchased your chart pattern e-book and worth for money. THanks. applied for KYC around 15 days back. But still says “at present in process”. How many days it will take in general?

http://shabbir.in/ Shabbir Bhimani

It takes longer than expected but “In process” does not make a difference because you are KYC done

SAURAV

do we need to apply separately for KYC to invest in different mutual fund, or only one KYC application is enough for all mutual fund?

http://shabbir.in/ Shabbir Bhimani

One is enough but you may need to attach your KYC slip with the MF application if you are doing it offline.

Sujith

Can I do KYC in another city where I am not a resident of? In my case I am in Hyderabad for the next 2-3 weeks – I am a resident of Bangalore – Can I give the KYC papers in Hyderabad?

http://shabbir.in/ Shabbir Bhimani

Yes because you are submitting the documents and that can be done in any nearby office.

Gagan

Hi,

I submitted my docs for KYC in Dec 2010. From more than 40 days its showing same status : “PRESENT IN PROCESS”. As the fiscal year is ending, I may not be able to do my ELSS investments if KYC is not cleared in next 15 more days. Please help, what should I do?

Thanks

http://shabbir.in/ Shabbir Bhimani

KYC status is not important and if you have acknowledgement letter you can attach that with your MF application and all should be fine.

channaveer nandennavar

Hi

My broker is Karvy and i am investing in stocks,mutual fund through this broker by online but now a days when i try to invest in any mutual fund its showing “KYC certification not yet done so could not place order above 1.00000″ what is this because i have filled the KYC form during opening of my karvy demat account

http://shabbir.in/ Shabbir Bhimani

They may have not done the processing of your KYC form to CVL. Check your KYC status and see what is the status of it.

channaveer nandennavar

hi Its showing Invalid DATA what to do now

http://shabbir.in/ Shabbir Bhimani

You have to get it done yourself and follow the process I have shown in the post.

satyaa

after filling the forms in which office we need to submit

http://shabbir.in/ Shabbir Bhimani

Check the link to find offices in your city

Nagendra

Even in my case I submitted KYC on 26th Jan and till 5th Feb it was showing invalid data. Now, the status is changed to “PRESENT IN PROCESS-DOCUMENT YET TO RECEIVE”.

Not sure what this status mean? Is there an explanation on what each KYC staus mean?

Rajesh

I have submited my documents on dec 31, 2010 for KYC till feb 1, 2011 it shows Present in process but today feb 3, 2011 it shows invalid data, my quiry is that what does it mean & how much time it will take to verify.

http://shabbir.in/ Shabbir Bhimani

Invalid data is something it should not show and so call them to see if it helps.

http://CVL Rajendra

I have submitted my KYC form on 11 Jan 2011. As per acknowledgement recd from CVL it must be done within 10 working days but till today it has not done showing status in process. After enquiry ti CVL they are replying very shrudly that it will take another 2 -3 weeks. Why we suffer for CVL’s poor infrastructure and delayed working.

Rajendra

http://shabbir.in/ Shabbir Bhimani

In process does not mean you are suffering and as you have the submitted document acknowledgement it can work as your KYC done kind of.

Smita

Hi,

Where did you do the enqiry. Do they have any customer Care number.

I have applied on 1st Feb and sinc last 3 weeks it is showing as ‘Present in Process’.

Can someone confirm where can we do the enquiry? Phone number?

Prasanna

i have 40,000 in hand.like to invest in ELSS is it good to invest in TWO funds or more than two funds pls.guide selected Fidelity,can robeco,HDFC tax saver- all Growth

http://shabbir.in/ Shabbir Bhimani

One or two funds does not make much of a difference unless objective of the funds are different.

Sabeesh

It took me little more than a month. I did it through ICICI Direct.

Suraj

Thank you Shabbir for great piece of information about KYC. Generally how many days does it takes KYC application to come to verified state. I have submitted the KYC application through HDFC bank on November 16th 2010 (along with proper documents) and still my KYC status is “PRESENT UNDER VERIFICATION” since 1/12/2010.

My whole purpose of applying for KYC is to invest in Mutual Funds through HDFC bank Investment Services Account (ISA). Also HDFC Bank is charging some fees per quarter just to hold ISA account. Let me know if there are any alternatives for mutual fund investment.

http://shabbir.in/ Shabbir Bhimani

Ideally 1+ week for KYC.

Also I use ShareKhan for my mutual funds and they charge annually some fees for the demat account and nothing much

Banyan Financial Advisors

Hi Suraj, Generally all investment accounts would now start charging for holding ISA account. Alternatively you can do your Mutual Fund investments offline as well. Since SIP is the best form of investing in mutual funds, whether you do it online or offline, it makes no difference. For most of our clients we go via offline route. In such case you need not require any kind of account. We offer this service to all our clients free of cost. Should you think you require our assistance, please feel free to contact us at info@banyan-fa.com.

B Jagan Rao

Thank you Mr Shabbir.

http://shabbir.in/ Shabbir Bhimani

The pleasure is all mine.

Joby

nice one Shabbir.

I would like to add some thing for NRIs. For NRI customers, they will accept NRE account statement attested by bank manager as overseas address proof. Otherwise we have to submit a document from overseas, attested by some authorized person in overseas(overseas bank manager, solicitor etc).

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